Transient Advantage Explainedposted by Anna Mar, May 25, 2013
What Is It?A truly sustainable competitive advantage is rare.
Transient advantage is a business strategy that accepts that competitive advantages are often short lived. It focuses on innovation strategies that continually build new advantages.
Instead of building an advantage and defending it — a transient strategy focuses on the velocity of competitive advantage.
So What?When you do something better than everyone in your industry — every competitor begins to emulate your strategy.
Products and customer experience techniques are quickly copied.
It usually doesn't take long before your advantage has eroded. Precious few companies have maintained an advantage for more than 5 years.
Transient advantage is an approach that recognizes these challenges. It prioritizes continually building competitive advantages at high speed and low cost.
How To Execute a Transient StrategyA transient strategy shouldn't be confused with a lack of a long term strategy.
It is a long term strategy that prioritizes regular innovation. There are 3 cornerstones of a transient advantage:
Investment in fail fast innovation.
- Corporate Culture
Transformation of corporate culture to be creative, inventive and aggressive.
- Change Management
Reducing barriers to change.
Next: Innovation Guide »
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